Redding, CA Investor Tax Management
With up-to-date tax knowledge and years of experience in navigating the world of investor tax management, Salgado Grey CPAs are ready to help you be as successful as possible.
By helping to minimize any tax liabilities, monitoring cash flow metrics, and more, we can help your investment business achieve its financial goals. Through a combination of analysis, research, and business savvy, Salgado Grey CPAs can simplify and organize your business in a way you may not have thought possible!
Investors have heavy deductions when it comes to construction, real estate investments, and land development. Don’t fall into the trap of letting a deduction slide! Contact us today to see how we can help your investments in Northern Colorado make your visions of success a reality!
Affordable Investor Accounting Services, Windsor CO
A compliance audit does not have to be as painful as it sounds. In fact, an audit is a service that if performed objectively and thoroughly, can help you be successful – not the other way around. While audit and compliance may be something you know nothing about, at Grey CPA we have studied long and hard to gain the right knowledge. We will uncover risks and unforeseen issues so that you can make adjustments to your processes as necessary for the success of your company.
Tax Compliance Complexity Burden
The IRS is continually updating new tax laws and regulations which make it almost impossible for business owners to keep up. Not only that, dividing attentions between money making actions and business tax compliance is a taxing job (pun intended). Stop spinning your wheels and focus on what you do best, managing your business, and let the tax compliance experts at our Windsor, CO CPA do the rest.
Common Tax Compliance Errors
We would like to share a few tax compliance errors that are most common in businesses today.
Reporting revenue in the same period as costs and expenses is important. Simply put, having out-of-period expenses will make the prior-period sales look better than they were. Implementing period-end accruals is an excellent way to recognize revenue and expenditures accurately.
Accurately keeping financial records. Why? Keeping accurate records is the law for all businesses. Proper recordkeeping is required to prepare your tax return and prove your reported income and expenses if needed (audit). It is recommended that records be retained for as long as possible.
Accurate employee deductions and payroll filings. Why? The IRS wants their portion, and your employee’s portion, and they are not afraid to charge payroll tax penalties when filing late or inaccurately. There are many tax laws around payroll taxes, and the IRS is on top of ensuring employee withholdings are accounted for and reported correctly.
At Salgado Grey CPAs in Redding, we want to make the complex simple with everything we do. That is why we are available to sit down with you and explain in layman terms how to minimize your tax risk by staying 100% compliant. This will help you and your tax preparation come April 15th!